Pipeline won’t help prices
Harvey Brandt, Weiser, Idaho
There is a perception that if the president and Congress approve the Keystone pipeline that the oil it moves will somehow end up in the tanks of U.S. automobiles. This is far from the truth and you only need to look at the global oil market to see it is not true. All oil companies use this global market to move their oil and the oil from Keystone is no different. Valero, the key recipient of that oil has said it plans to ship that oil to a foreign market, since they are a foreign entity and the money coming from it will be tax free to that company.
So, before anyone thinks this is good for the USA, think again. It will do nothing to curb the import of foreign oil, only put more oil in the global market, not for use on U.S. soil. You only need to look no further than your back door to see no matter how much oil is pumped in the states, it does not bring down the price of gas at the pump. But Valero will use our land and resources to move this oil, tax free.